Abstract

Smart contracts gain rapid exposure since the inception of blockchaintechnology. Today's smart contracts are coded in non-mainstreamprocedural programming languages (e.g. Solidity for Ethereum),which lifts the requirement to draft enterprise ready smart contract toboth a legal professional and a programmer instead of only the former.In search for a smart contract language that reduces the threshold todraft one, this conceptual paper elaborates how business logic can beconverted to executable code for commitment-based smart contracts.Hereby, a contract is viewed as a set of reciprocal commitments. Thesmart contract ensures the automated execution of all or most of thesecommitments. In order to leverage its event processing capabilities,Reaction RuleML has been used to appropriately represent theelements and working of passive and active rules within acommitment based smart.

Original language

English

Title of host publication

Proceedings of the 12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018)

title = "An introduction to commitment based smart contracts using ReactionRuleML",

abstract = "Smart contracts gain rapid exposure since the inception of blockchaintechnology. Today's smart contracts are coded in non-mainstreamprocedural programming languages (e.g. Solidity for Ethereum),which lifts the requirement to draft enterprise ready smart contract toboth a legal professional and a programmer instead of only the former.In search for a smart contract language that reduces the threshold todraft one, this conceptual paper elaborates how business logic can beconverted to executable code for commitment-based smart contracts.Hereby, a contract is viewed as a set of reciprocal commitments. Thesmart contract ensures the automated execution of all or most of thesecommitments. In order to leverage its event processing capabilities,Reaction RuleML has been used to appropriately represent theelements and working of passive and active rules within acommitment based smart.",

author = "{de Kruijff}, Joost and Hans Weigand",

year = "2018",

month = "2",

language = "English",

volume = "2239",

pages = "149--157",

editor = "Jaap Gordijn",

booktitle = "Proceedings of the 12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018)",

T1 - An introduction to commitment based smart contracts using ReactionRuleML

AU - de Kruijff, Joost

AU - Weigand, Hans

PY - 2018/2

Y1 - 2018/2

N2 - Smart contracts gain rapid exposure since the inception of blockchaintechnology. Today's smart contracts are coded in non-mainstreamprocedural programming languages (e.g. Solidity for Ethereum),which lifts the requirement to draft enterprise ready smart contract toboth a legal professional and a programmer instead of only the former.In search for a smart contract language that reduces the threshold todraft one, this conceptual paper elaborates how business logic can beconverted to executable code for commitment-based smart contracts.Hereby, a contract is viewed as a set of reciprocal commitments. Thesmart contract ensures the automated execution of all or most of thesecommitments. In order to leverage its event processing capabilities,Reaction RuleML has been used to appropriately represent theelements and working of passive and active rules within acommitment based smart.

AB - Smart contracts gain rapid exposure since the inception of blockchaintechnology. Today's smart contracts are coded in non-mainstreamprocedural programming languages (e.g. Solidity for Ethereum),which lifts the requirement to draft enterprise ready smart contract toboth a legal professional and a programmer instead of only the former.In search for a smart contract language that reduces the threshold todraft one, this conceptual paper elaborates how business logic can beconverted to executable code for commitment-based smart contracts.Hereby, a contract is viewed as a set of reciprocal commitments. Thesmart contract ensures the automated execution of all or most of thesecommitments. In order to leverage its event processing capabilities,Reaction RuleML has been used to appropriately represent theelements and working of passive and active rules within acommitment based smart.

M3 - Conference contribution

VL - 2239

SP - 149

EP - 157

BT - Proceedings of the 12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018)